In most of central and north Jersey they range from $5,000 to $20,000 per year for most towns and houses. Mine are $10,000 per year. I believe that the state average is around $8,000?
I’ve glanced at the general rate vs effective rate in NJ. If y’all can explain it you must be a CPA.
Or just on some good drugs.
Generally your effective rate seems like it will be lower than the general, but sometimes not. And of course there’s the outlier: Winfield Twp that manages an effective rate of 19.2% of screw you very much on a General of 229.192%.
Then there’s Avalon Boro with is a hair over 1/2 of a percent for both. Lucky bastards!
To be honest I really don’t know much about general or effective rates regarding property taxes. Typically the more expensive the house the higher the property taxes are.
I tried to wrap my noggin around the idea of a tax rate that isn’t THE tax rate and the best I can come up with is the towns pass the general rate and then … something happens. Some other agency puts their fingers on the scale or there’s some exemption structure that’s a percentage (the general is on the percentage not taxed). In favor of the second agency (probably State) complicating things is that some rates appear to go up and not uniformly down.
… of course they could have both exemptions and thumbs on the scales.
In general there is no idea so bad that bureaucrats and lawyers can’t make it worse.
That also applies to those living in San Fran. Anyone that lives paycheck to paycheck is living above their means. I do see what your getting at, the cost of living is much higher in San Fran than say Chicago. However, those living in these places know that yet still manage to spend more than they earn.
There’s the old saying it’s not what you make it’s what you keep. I can tell you that in much of NJ to live a middle class life style for a family of 4 with a house you need a combined salary of at least in the low six figures. The housing and other cost of living expenses in CA must be much worse though if $400,000 is just getting by.